US Treasury Secretary Yellen meets with Banga, who is taking over as President of the World Bank.
According to a US Treasury Department statement, Yellen warmly welcomed Banga’s presidency during the meeting at the ministry.
Yellen expressed her willingness to continue to work closely with Banga to build on the strong progress made in the evolution of multilateral development banks, including improving and increasing the amount of private capital mobilized for common global development goals and perfecting of the operating model.
Noting that more than one crisis continues, including the importance of the World Bank working more closely with other development banks and the global macroeconomic headwinds exacerbated by the Russia-Ukraine War, Yellen stressed that the Bank must support countries poorer members while these crises continue.
Noting that there are significant global challenges and opportunities in the current period, Yellen stressed that she looks forward to seeing Banga’s experienced leadership and proven managerial skills in managing the World Bank during this period.
Early last month, the World Bank’s Board of Executive Directors elected US candidate Ajay Banga as the bank’s 14th president. Elected to a 5-year term, Banga will take over from him tomorrow. (AA)
Source: Sozcu
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